Singapore a regional ‘lighthouse’ for luxury watch retailing market, says industry veteran

THE population of the United States is 55 times that of Singapore’s. Yet, US consumers buy only 3 times as many luxury watches as Singapore consumers do.

“Singapore... not only has a large local watch market but also serves as a regional hub, serving both watch customers in Asean and beyond Singapore,” business veteran in luxury products and luxury watch distribution, Alexander C Melchers, told The Business Times (BT) in an interview.

Melchers, who is general manager and managing director at the Singapore branch of trading house Melchers GmbH & Co, was speaking to BT on the occasion of the Swiss National Day about one of Switzerland’s top exports. His company works with several luxury watch brands including Patek Philippe, Breitling and Norqain.